Finance category
Mortgage, loan, investing, tax, and money calculators.
Capital Gains Exclusion Calculator
IRS §121 excludes $250K of gain ($500K married joint) on sale of primary residence — if you've owned and used it as primary residence 2 of last 5 years. This calculator sizes the exclusion and taxable portion.
Taxable gain (after exclusion)
$0
Excluded gain
$308,000
Total gain
$308,000
Max exclusion for status
$500,000
Tests passed
Yes
How the math works
$650K sale − $42K expenses − $300K basis = $308K gain. Joint filer $500K exclusion. Full $308K excluded → $0 taxable.
One of the most powerful tax breaks. Time sales: live in home long enough to meet the 2-year test, then sell tax-free. Don't blow the test by a month.
How to Use
- Enter sale price, basis, and filing status.
- Confirm ownership/use tests.
- See excluded gain and taxable remainder.
Frequently Asked Questions
Both tests must pass?
Yes. Ownership: owned 24 of last 60 months. Use: lived in as primary residence 24 of last 60. Can be different 24-month periods but both must be met.
Partial exclusion?
If you sell early due to job change, health, or unforeseen event, prorated exclusion based on months qualified / 24. Get CPA review before filing.
Can I use it again?
Once every 2 years from last §121 sale. Two-year 'look-back' period is automatic reset.
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